Shared Equity Home Buyer Helper

If you're a single parent caring for children, single and aged 50 years or older, or a first home buyer employed as a key worker, the NSW Government's Shared Equity Home Buyer Helper may help you fast-track your path to homeownership by supporting you purchase your own home with as little as a 2% deposit, while saving thousands of dollars in lenders mortgage insurance costs.

Examples

Single parent in Sydney
For an eligible single parent in Sydney buying a new home at the maximum price of $950,000, the 40% government contribution would be a maximum of $380,000. This government contribution would lower monthly mortgage repayments by around $2,200 (assuming an interest rate of 6% p.a. over a 30-year term).

First home buyer teacher in Wagga Wagga
For an eligible first home buyer who is a teacher in Wagga Wagga buying an existing home at the maximum price of $600,000, the 30% government contribution would be a maximum of $180,000. The government contribution would lower monthly mortgage repayments by around $1,080 (assuming an interest rate of 6% p.a. over a 30-year term).

The initiative is open to:

• a single parent of a dependent child or children;
• a single person aged 50 or above;
• first home buyer key workers who are nurses, midwives, paramedics, teachers, early childhood educators and police officers.

To be eligible you must:

• have a gross household income of no more than $93,200 for singles and $124,200 for couples;
• buy a home with a property price no more than $950,000 in Sydney and major regional centres (Newcastle, Lake Macquarie, Illawarra, Central Coast, North Coast of NSW) or no more than $600,000 in other regional areas;
• be at least 18 and an Australian or New Zealand citizen, or a permanent Australian resident;
• have a minimum deposit of 2 per cent of the purchase price;
• occupy the property as your principal place of residence;
• not own an interest in any other land or property at the time of settlement on your newly purchased property if you're a single parent or older single 50 years or over applicant;
• not have previously owned an interest in any land or property in Australia if you're a first home buyer key worker applicant (and the same applies to your spouse/partner).

For full details on the eligibility criteria, download the fact sheet and information guide. 

All information including interest rate is subject to change. Unity Bank is a participating lender for NSW Shared Equity Home Buyer Helper, which is an initiative of the New South Wales Government. The information on this page is correct at the time of publishing but may change at any time without notice to you, including as a result of changes to the NSW Shared Equity Home Buyer Helper scheme by the New South Wales Government. Terms and conditions, fees, charges, eligibility and lending criteria apply. Restrictions and other obligations apply after purchase. Full details available on application. All information is correct as at 1 July 2023 and is subject to change without notice. Target Market Determination avaliable here.